209
209
Nov 29, 2012
11/12
by
CNBC
tv
eye 209
favorite 0
quote 1
how is that going to help the economy? >> it won't help the economy. they're going to put this new 3.8% sur fax on to investors to pay for obama care. as you mentioned, it cost more than $100 billion. something to keep in mind here is the total tax hike cost for obama care is $500 billion. americans will see more than half of that take place on january 1st. >> that's on top of whatever they decide to do on this fiscal cliff business. katie, the next biggest one, $87 billion is an increase in the payroll tax. .9%, 2.9 to 3.8%, small business busy and self-employed. how does that promote growth. they're going to be hiring less and there are going to be fewer employees. >> don't they talk about this? why don't they do the add-ones that you're doing on the obama care taxes? >> i'm actually not sure about this. i'm pretty confused about why the romney campaign didn't hit the obama care tax argument harder on the campaign trail because the supreme court ruled it a tax for good reason. it had gone through the numbers here on your show. this hit small business
how is that going to help the economy? >> it won't help the economy. they're going to put this new 3.8% sur fax on to investors to pay for obama care. as you mentioned, it cost more than $100 billion. something to keep in mind here is the total tax hike cost for obama care is $500 billion. americans will see more than half of that take place on january 1st. >> that's on top of whatever they decide to do on this fiscal cliff business. katie, the next biggest one, $87 billion is an...
52
52
Dec 3, 2012
12/12
by
CNBC
tv
eye 52
favorite 0
quote 0
remember the shanghai comp is not the chinese economy. if you look at technical indicators there are guying screening the table. i do think china looks very interesting for a lot of people. >> i think people at home are going to start thinking to themselves what happened to yum brands. >> so did tiffany. >> why the disconnect here? >> you have to understand that yum has a couple of specific issues. yum is not the only guy out there. >> it is the biggest guy out there. >> i think when you have competition and their comps were significantly high and this is one of the head winds for them their comps are too good and i don't think they will grow 50%. they are a luxury brand producer going after a sector of the market that is unsustainable. if you look at the chinese consumer they are not buying tiffany watches and eating at yum. it is a consumption story that is slowly getting better. >> is it time for a final trade? >> you asked me and i'm delivering. >> you bring it. you always bring it. >>> mieving on here. americans are piling into u.s.
remember the shanghai comp is not the chinese economy. if you look at technical indicators there are guying screening the table. i do think china looks very interesting for a lot of people. >> i think people at home are going to start thinking to themselves what happened to yum brands. >> so did tiffany. >> why the disconnect here? >> you have to understand that yum has a couple of specific issues. yum is not the only guy out there. >> it is the biggest guy out...
177
177
Dec 7, 2012
12/12
by
CNBC
tv
eye 177
favorite 0
quote 0
>> meaning there is a major skill mismatch in this economy. even chairman bernanke hinted that the in a speech two weeks ago. i don't think we can down play this mismatch. it's for real. >> in other words, not enough skilled workers. >> for all jobs. >> aurks i want to bring up a policy question. to joe's point, maybe the programs that have been put in place -- when you think about the money, the stimulus, everything that's gone into trying to make this recovery real in the economy and get jobs created, and we're still at this stage. i mean, maybe the programs that were put in place weren't right. maybe they should have been more skill matching programs. >> if by that you're saying unemployment insurance, that's a complete misnomer. first of all, you can't get unemployment benefits unless you're actively looking for work. if the people at the unemployment benefits office find out you were offered a job and you're turning it down, you lose your benefits. i think that part of the story would bear a little more scrutiny rather than just taking it
>> meaning there is a major skill mismatch in this economy. even chairman bernanke hinted that the in a speech two weeks ago. i don't think we can down play this mismatch. it's for real. >> in other words, not enough skilled workers. >> for all jobs. >> aurks i want to bring up a policy question. to joe's point, maybe the programs that have been put in place -- when you think about the money, the stimulus, everything that's gone into trying to make this recovery real in...
178
178
Dec 4, 2012
12/12
by
CNBC
tv
eye 178
favorite 0
quote 0
economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie boorstin is in los angeles with the three things you need to know this deal. hi, julia. >> hi, sue. well, facebook is continuing its big push to make money on mobile users by offering its messenger app to billions of people around the world with phones and no longer limiting that app to facebook users. here's the deal. first, mobile messenger is a free app for texting, group chat and photo sharing with no per-text fees. just carrier's regular data costs. doesn't yet yield direct revenues to facebook but it is serving as a gateway to join the soc
economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie...
152
152
Dec 1, 2012
12/12
by
CNBC
tv
eye 152
favorite 0
quote 0
they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not get hung up on spain. what i want to come back to is the usa. because our market has not collapsed, it's really different than it looks like it was back in 2011. i just want to ask, is it better to own those low-rate bonds right now? or jim la camp, i want you both to weigh in quickly. is it better to own corporate bonds or treasury bonds during this tiff over the fiscal cliff, or is it better to own stocks? real quick. >> well, short term we're going to have a lot of gyrations. but those yields are under the inflation rate. you're getting negative real returns on these. that's one of the reasons the stock market has been more buoyant. >> and don luskin, is it better to own bonds during this fiscal cliff tiff? >> y
they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not get hung up on spain. what i want to come back to is the usa. because our market has not collapsed, it's really different than it looks like it was...
188
188
Nov 29, 2012
11/12
by
CNBC
tv
eye 188
favorite 0
quote 0
>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the cliff. the dow up 32 points right how it. >> we've heard some democrats made maye be willing to dive off that fiscal cliff. our next guest certainly is not following suit. find out what cuts he's willing to make. >>> another potential cost saver could be ditching the paper dollar in favor of a dollar coin. congress is considering it. could our debt literally kill the dollar bill? we'll talk about that. >>> and later on, i'll be talking exclusively to two of the nation's top ceo on how the fiscal cliff will impact their businesses. that's later on in "the closing bell." stay with us. back in a
>> that will have a negative impact on the california economy and on the u.s. economy. so ron is right. there are parts of the u.s. economy are certainly improving, but there are other parts that have not yet felt a vice that's squeezing on them. >> all right. we got to go. the bell is going to ring shortly, i feel like. we got to go. thank you, everybody. appreciate it. we are heading toward the close and, really, the market is where it was before all the rhetoric came out on the...
93
93
Dec 4, 2012
12/12
by
CNBC
tv
eye 93
favorite 0
quote 1
what is the impact on the economy? >> for the government, the biggest impact n 1986, we'd similar thing, capital gains went from 20% to 28%. what happened is capital gains collections doubled in 1986 and then fell by half the following year, we can expect our government will have more than expected tax revenues this year and next year, when taxes go up, everyone will say, see, the tax hikes didn't work, we actually collected less revenue. and so the danger is we build program of this year's revenue, forecast base on this year's tax revenue and fall short next year. it could impact spending this money is not out there not generating jobs, not buying things or, you know, building things. >> got leave it there great stuff as always. thanks very much. >>> coming up next, flu fears starting early this year. why this flu season could be the worst in years. >>> and later on, iran stays shot down an american drone. the navy says no you didn't. either way, our own phil lebeau has firsthand experience with a small drone playing
what is the impact on the economy? >> for the government, the biggest impact n 1986, we'd similar thing, capital gains went from 20% to 28%. what happened is capital gains collections doubled in 1986 and then fell by half the following year, we can expect our government will have more than expected tax revenues this year and next year, when taxes go up, everyone will say, see, the tax hikes didn't work, we actually collected less revenue. and so the danger is we build program of this...
165
165
Dec 4, 2012
12/12
by
CNBC
tv
eye 165
favorite 0
quote 0
do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >> i really do. i think they want to go home for christmas. they're not going to want to not go home for christmas. you can always count on
do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad...
83
83
Dec 7, 2012
12/12
by
CNBC
tv
eye 83
favorite 0
quote 0
18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting himself into hot water with a facebook post. does the s.e.c. really have a case against him or do the laws need to change with regard to social media? >>> and could pot help us solve our fiscal problems? guys, we are calling this the fiscal splif and we will rise above it, mon. "street signs" it is australian for business news. >> thanks, brian. see you at 2:00 p.m. >>> steve case is one of america's greatest entrepreneurs, best known as co-founder of america online, along with dozens of other investments such as living social and zip car and really too many to name. these d
18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting...
66
66
Nov 30, 2012
11/12
by
CNBC
tv
eye 66
favorite 0
quote 0
>> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this. frankly, sooner is better than later. [ inaudible question ] >> -- is this the necessary public posturing that needs to go on or is there a serious stalemate right now? >> there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you watched me over the last three weeks, i've been very guarded in what i have to say because i done want to make it harder for me or the president or members of both parties to be able to find common ground. but when i come out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. then t
>> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this....
100
100
Nov 30, 2012
11/12
by
CNBC
tv
eye 100
favorite 0
quote 0
terms of the economy and getting people employed again. we don't want to go with an austerity approach like europe that will put us into potentially a double dip recession. >> speak to me about another issue that you've really been on the forefront of, and that is immigration reform, specifically as it pertains to highly educated and highly qualified students and individuals who are in the united states. the house basically has just passed a bill that would allow them to stay in the united states longer but it doesn't look like it has much future in the senate. what are your thoughts? >> this is an issue where we really ought to be able to get to yes. i've introduced legislation to try to address this issue and make sure that we can provide visas to people that graduate with degrees, advanced degrees from the united states institutions, in engineering, in math and science. so i don't think we're all that far apart but there hasn't been a willingness yet to come to resolve some of the remaining issues. but this ought to be really a no-brain
terms of the economy and getting people employed again. we don't want to go with an austerity approach like europe that will put us into potentially a double dip recession. >> speak to me about another issue that you've really been on the forefront of, and that is immigration reform, specifically as it pertains to highly educated and highly qualified students and individuals who are in the united states. the house basically has just passed a bill that would allow them to stay in the...
210
210
Dec 6, 2012
12/12
by
CNBC
tv
eye 210
favorite 0
quote 0
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses welcome to the world leader in derivatives. welcome to superderivatives. >>> we already bailed out a couple of its auto companies, but now should the federal government bail out the entire city of detroit? incredibly, some say yes. ahead of president obama's visit to detroit monday, that will be his first in nearly eight months, detroit councilwoman e joe -- joanne watson thinks so. >> our people overwhelmingly supported president obama and quid pro quo. >> joining me is doc thompson of talk radio 1270 wxyt. doc, welcome. let me start without this thought. if you have a federal bailout of detroit, doesn't that mean that citizens, taxpayers of texas, let's say, would
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses welcome to the world leader in derivatives. welcome to superderivatives. >>> we already bailed...
231
231
Dec 7, 2012
12/12
by
CNBC
tv
eye 231
favorite 0
quote 0
and when the economy stalls, when the economy sputers, when people lose their jobs, they know which party to blame, the party of high taxes. let's don't be the party of just almost as high taxes. >> some people have called that the doomsday scenario. others have said it's a strategic retreat on the republicans' behalf. would you vote present for that in the senate if it comes up? >> i don't think we have to in the senate. i'm happy not to filibuster it and i will announce tonight on your show that i will work with harry reid to let him pass his big old tax hike with a simple majority if that's what harry reid wants because then they will be the party of high taxes and they can own it. >> i want to ask you one quickie. your friend and mine, senator jim demint, resigning from the senate. going to take over as head of the heritage foundation. he is a great free market defender of capitalism. what do you make of jim demint leaveliing the senate? >> i think there's two ways to look t a it. the way i look at it, i've jokingly said he's going to a better place. but i really am serious about that
and when the economy stalls, when the economy sputers, when people lose their jobs, they know which party to blame, the party of high taxes. let's don't be the party of just almost as high taxes. >> some people have called that the doomsday scenario. others have said it's a strategic retreat on the republicans' behalf. would you vote present for that in the senate if it comes up? >> i don't think we have to in the senate. i'm happy not to filibuster it and i will announce tonight on...
323
323
Dec 6, 2012
12/12
by
CNBC
tv
eye 323
favorite 0
quote 1
we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "washington post" reports some moderate and conservative republicans are calling on boehner to concede on taxes now while he still has leverage to ask for something in return likely sbiltsment reforms. larry hathaway joins us for more. wlarry, good to see you. geithner says do no harm but they're prepared to go over the cliff. >> i think it's rather disingenuous. the administration feel it is has wind in its sails from the election and is trying to push the mandate on the issue of mar again al tax rates. i think the risks of
we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more...
134
134
Dec 4, 2012
12/12
by
CNBC
tv
eye 134
favorite 0
quote 0
and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see also a drastic reduction in the number of millionaires in the u.s. as a result of this tax cliff. robert frank joins us now with the details. good evening, robert. >> good evening. drastic is right. if we go over the cliff the wealthy will become less wealthy and fewer americans would become wealthy. the u.s
and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more...
223
223
Dec 3, 2012
12/12
by
CNBC
tv
eye 223
favorite 0
quote 0
economy $1 billion a day. it means lost business for truckers and others who rely on the port for their livelihood. combined they are the nation's busiest handling nearly 40% of impossibles from asia. and google customers across europe will be able to access the largest repertoire of music in the world. the fruit of a collaboration between internet giant and european collecting societies. kelly spoke to the director of strategy resources and asked him how instrumental google was in setting up the licensing platform. >> to facilitate their access and want to offer to every music provider to europe and perhaps the world. so access for all digital partner that have some services in europe. >> we should give you perhaps the task of figuring out the euro zone because you've manned to come together at least with regard to music. how difficult was to overcome those obstacles that those national ob kells that it seemed it held up your counterparts when it comes to trying to figure out for example budget issues? >> tha
economy $1 billion a day. it means lost business for truckers and others who rely on the port for their livelihood. combined they are the nation's busiest handling nearly 40% of impossibles from asia. and google customers across europe will be able to access the largest repertoire of music in the world. the fruit of a collaboration between internet giant and european collecting societies. kelly spoke to the director of strategy resources and asked him how instrumental google was in setting up...
175
175
Dec 7, 2012
12/12
by
CNBC
tv
eye 175
favorite 0
quote 0
economy, it is phenomenal. some estimates think it will add 0.3% per an mum to growth over five years. the uk probably doesn't have quite that potential, but it could still be significant. >> all right. thanks for that. more to come in just a second. so very poor industrial manufacturing, down two shut downs at the buzzard oilfields. so not necessarily what those figures seem at first glance. european stocks down marginally. ftse up nine points, xetra dax at pretty much the early 2008 level. 7530. my eyes are going. it's age. right. let's just recap what else is going on. y yen rising to a session high. at the moment 82.38. let's get more on the market reaction from the nikkei. >> hi. a very strong earthquake hit at 5:18 p.m. the center was closest to miyagi prefecture. it had an estimated magnitude of 7.3. tsunami warning was issued for miyagi prefecture and around 6:00 p.m., a one meter high tsunami was recorded. tokyo electric power, the operator of the fukushima nuclear plant, reported no irregularities. a
economy, it is phenomenal. some estimates think it will add 0.3% per an mum to growth over five years. the uk probably doesn't have quite that potential, but it could still be significant. >> all right. thanks for that. more to come in just a second. so very poor industrial manufacturing, down two shut downs at the buzzard oilfields. so not necessarily what those figures seem at first glance. european stocks down marginally. ftse up nine points, xetra dax at pretty much the early 2008...
36
36
Nov 29, 2012
11/12
by
CNBC
tv
eye 36
favorite 0
quote 0
>> i think it's a thesis that goes beyond the developed economies. i think it goes into the emerging markets themselves. uk company. latin america, great company doing well. 52 week high today. >> murph, a trade? >> you have to be careful with the travel companies. expedia, pricelines. these things up 700%, 600%, you wouldn't want to chase those. gun stocks, there could be more room there. >> it's been a wild ride for gold. metal rebounding from yesterday's big selloff. its biggest drop in a month. with the fiscal cliff looming, is there a play to be made? commodities ding dennis gartman of the gartman letter joins us on the fast line. good to have you on. >> always good to be here, judge. >> what are the implications of the fiscal cliff to gold? trying to figure out what even caused this $30 move we saw yesterday. >> two questions. i'm not sure the fiscal cliff is terribly important when it comes to the gold market. i think what's far more important is the advent of continued expansion of the reserves by the fed. by the bank of -- by the ecb. and, p
>> i think it's a thesis that goes beyond the developed economies. i think it goes into the emerging markets themselves. uk company. latin america, great company doing well. 52 week high today. >> murph, a trade? >> you have to be careful with the travel companies. expedia, pricelines. these things up 700%, 600%, you wouldn't want to chase those. gun stocks, there could be more room there. >> it's been a wild ride for gold. metal rebounding from yesterday's big selloff....
99
99
Nov 29, 2012
11/12
by
CNBC
tv
eye 99
favorite 0
quote 0
economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government spending at the federal side. also you had inventories go up. what you didn't have is -- we marked down consumer spending and business spending was negative. i want to do 3%, 3.5%, 4% with strong consumer spending and strong business spending. those will be a sustainable path for the economy. >> can't let you go without a little fed speak. mr. dudley, new york fed chief, speaking this morning. >> some important comments. hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've bee
economy to tell you about. it grew faster than expected in the third quarter. gdp expanding at an annual rate of 2.7% topping last month's estimate of 2%. our senior economics reporter steve leisman is here. what struck you about this report? i remember the day before yesterday you were saying don't expect that kind of performance in the fourth quarter. >> exactly. i'll take it. we can get to 2.7%. it is better than 2%. i don't love how we got there. big parts of that was government...
151
151
Dec 5, 2012
12/12
by
CNBC
tv
eye 151
favorite 0
quote 0
economy. we think the rate cutting cycle may well be over, but the market isn't particularly viewing it that way as of yet. so the aussie still has that headwind. but it feels like headwinds. it is a bit frustrating because we are quite bearish in aussie but we're not getting that kind of downside momentum. it's just stop the cap side. >> you never know. >> it's a rarity. >> it is a rare thing for you. hang around long enough, it will go your way. thanks for that. >> cheers. >>> spain. the treasury is setting up three, seven, and ten-year bonds. they're now pre-funding for 2013. we've got the results of that in around about 30 minutes. >>> and china and india secretary growth slowed in november. analysts say china and india's nonmanufacturing team expected to improve thanks to a hiring boost in the mainland as well as strong new orders in india. at the same time, china's new leadership, as we pointed out, has laid out some fresh directives. >> these are some pretty sweeping reforms making chin
economy. we think the rate cutting cycle may well be over, but the market isn't particularly viewing it that way as of yet. so the aussie still has that headwind. but it feels like headwinds. it is a bit frustrating because we are quite bearish in aussie but we're not getting that kind of downside momentum. it's just stop the cap side. >> you never know. >> it's a rarity. >> it is a rare thing for you. hang around long enough, it will go your way. thanks for that. >>...
221
221
Nov 29, 2012
11/12
by
CNBC
tv
eye 221
favorite 0
quote 0
that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it would be hard on high income people with very large houses. but we have just built too many too many large houses, you would have to phase it out. but i think that would be a good solution. >> on the subject of tax reform, i know in simpson-bowles there was a proposal to lower corporate taxes, do you think that is still a possibility if in fact we still move to additional tax reform in 2013? >> i do. i think that broadening the base of the income tax, the corporate income tax is also a good idea. getting rid of a lot of special provisions that riddle the tax and
that's not good for the economy at this point. and i'm really thinking of the home mortgage deduction. >> i think the home mortgage deduction could go. >> entirely? >> beneaneither of the commissi recommend recommended removing it entirely. the deduction which primarily is an advantage for high income people into a credit up to a limit. that would mean that people with much more modest incomes, who now don't itemize their deductions would get the benefit of this credit. it...
206
206
Dec 4, 2012
12/12
by
CNBC
tv
eye 206
favorite 0
quote 0
concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like that. so those talks will go on longer than originally hoped. but we are marginally higher going to the u.s. open. thank you. >> kelly, thank you. i'll just call you r kelly in now. >> that's not bad. >> ross, thank you. great to see you. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male an
concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like...
153
153
Nov 29, 2012
11/12
by
CNBC
tv
eye 153
favorite 0
quote 0
uk see as sharp drop in lending to the real economy. and the search for the lucky power ball winners is on. two tickets match the record $580 million drawing. iberia labor unions have confirmed they'll call a six day strike in december. it will start december 14th and last through december 21st. this comes amid the airline saying it will slash about a quarter of the spanish airlines workforce and cut capacity as part of a restructuring plan. air freight traffic slowed to 3.8% year on year growth and just under 2% month on month growth for the month of october. passenger air traffic was up 3.2% this october, but it did actually decline in october by 0.2%. so a cautionary sign there for global demand. moving on now, costco is just one of the several u.s. companies deciding to issue a special one i'm cash dividend to shareholders. the new is aimed at helping investors stay ahead of automatic tax increases that will take effect in congress fails to resolve the fiscal cliff. in a twist, the retailer is issuing $3.5 billion in new debt to pay
uk see as sharp drop in lending to the real economy. and the search for the lucky power ball winners is on. two tickets match the record $580 million drawing. iberia labor unions have confirmed they'll call a six day strike in december. it will start december 14th and last through december 21st. this comes amid the airline saying it will slash about a quarter of the spanish airlines workforce and cut capacity as part of a restructuring plan. air freight traffic slowed to 3.8% year on year...
263
263
Nov 29, 2012
11/12
by
CNBC
tv
eye 263
favorite 0
quote 0
you need grow the economy. >> the question is can we grow the economy like we have in the past. some people question whether 2007 was just a big bubble. you're right the 8.5% in gdp is his totorically what we bring i but you have to find some way to change the deficit and we have for the got p baten back to any of growth. >> it's because you all the borrowing has scared consumers, scared business investors. so what you really need is if president obama ran on a balanced plan, okay, he won, so maybe the reality is some tax rate will question up, but the problem with that is our deficit last year was $1090 billion large. my point to president obama is where is the other part of your balanced plan. how are you into to go restrain or close the additional trillion dollars worth of deficit. >> you want to see entitlements tackled. in th if that were the case, would you then go on the tax rate on the richest americans? >> i'm not going to answer hypotheticals and negotiate here on the set. what we need to do is see the president's plan. i've done enough negotiations in business to unde
you need grow the economy. >> the question is can we grow the economy like we have in the past. some people question whether 2007 was just a big bubble. you're right the 8.5% in gdp is his totorically what we bring i but you have to find some way to change the deficit and we have for the got p baten back to any of growth. >> it's because you all the borrowing has scared consumers, scared business investors. so what you really need is if president obama ran on a balanced plan, okay,...
266
266
Dec 7, 2012
12/12
by
CNBC
tv
eye 266
favorite 0
quote 0
what is he saying about jobs and the economy? he'll lay it out for us after the break. >> and would you like van gogh with your morning coffee? maybe you need something more cutting edge. one company is putting the entire art world at your fingertips. we'll introduce you to the ceo of artsy coming up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offer
what is he saying about jobs and the economy? he'll lay it out for us after the break. >> and would you like van gogh with your morning coffee? maybe you need something more cutting edge. one company is putting the entire art world at your fingertips. we'll introduce you to the ceo of artsy coming up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you...
202
202
Dec 5, 2012
12/12
by
CNBC
tv
eye 202
favorite 0
quote 0
economy is still the driver of the world economy, still the biggest economy. if you're going to look for something to happen, look for consumers to come back and move and get production generated, it's going to be here, not somewhere else. so if the u.s. puts in austerity as you say, then that is going to drag on the economies around the rest of the world. and you're looking at, i think, more concerns, and that could go back to the dollar, surprisingly. >> kevin, why don't we talk about oil prices? we did see oil touch above $90 last week at the end of the week. but it was a very brief move, this morning back down around $88. what's driving things right now? is it geopolitical or more of a story about what's happening in economies around the world? >> merry fiscal cliff-mas to you. you're going to see more bouncing like a yo yo, on the fundamental story, the models we have pointing going into 1q, the reason, it sort of rhymes in the spirit of the season. you have non-opec demand growing, global demand slowing, it's not snowing, and down is where we're going. t
economy is still the driver of the world economy, still the biggest economy. if you're going to look for something to happen, look for consumers to come back and move and get production generated, it's going to be here, not somewhere else. so if the u.s. puts in austerity as you say, then that is going to drag on the economies around the rest of the world. and you're looking at, i think, more concerns, and that could go back to the dollar, surprisingly. >> kevin, why don't we talk about...
324
324
Dec 3, 2012
12/12
by
CNBC
tv
eye 324
favorite 0
quote 1
they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >> absolutely. certainly was a real estate bubble there. now there are austerity measures being put in place and they're actually following through on the austerity measures. so certainly they'll come out first and actually look pretty good. >> so where is the most business for you for cantor in ireland, what will you be doing? >> certainly it's an equity based firm. we'll bring our fixed income expertise, probably become the primary dealer there. the irish government will continue to have to have bond issuances as well as corporate debt will start to become a much bigger part of the
they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >>...